Elon Musk offers to buy Twitter

Elon Musk has offered to buy all of Twitter at a price that values the social media platform at more than $43 billion. Musk called the offer his "best and final," and said if it was not accepted he would have to "reconsider my position as a shareholder."

"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," wrote the Tesla CEO in a letter to the company's board chair.

"However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," said Musk.

He continued, "As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."

Musk, one of the world's wealthiest men, delivered a letter to the company with a proposal to buy the remaining shares of Twitter for $54.20 each. Musk's personal worth is valued at about $259 billion. 

"Twitter has extraordinary potential. I will unlock it," he said.